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EMF Hypostat

WHAT IS IT ?

The EMF-ECBC is pleased to present the 2024 edition of the Hypostat, the EMF-ECBC’s flagship statistical report encompassing data on recent developments in housing and mortgage markets in Europe and beyond.

The 2024 edition (covering data until end 2023) presents data and analyses for the 27 Member States of the European Union, as well as data from 9 additional countries (Australia, Canada, Brazil, Japan, Russia, Singapore, South Korea, Turkey and the United States of America).

 

Access the interactive version of the EMF Hypostat 2024 by clicking on the image below or download the PDF version.




The Hypostat Data Hub encompasses the EMF statistics for the 27 Member States of the European Union, plus an additional 12 jurisdictions beyond the EU’s borders. This data series covers all relevant indicators on housing and mortgage markets, and macroeconomic patterns to enable financial institutions, private stakeholders and researchers to identify and analyse key changes in these markets at both individual and condensed levels.

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The European mortgage and housing finance sectors face three key challenges.

Firstly, from an environmental standpoint, European residential dwellings must adapt to rapidly changing climate conditions and comply with new building energy performance requirements, to contribute towards meeting the EU’s climate goals. The environmental standpoint is elaborated further in one article in Hypostat 2024. Secondly, the demographic changes in Europe, which depict different dynamics in different regions and cities. This leads to heterogenous challenges with some areas facing demographic expansion and house price increases whilst others witness people leaving and house prices falling.

On average, the total number of building permits

issued continue to decrease by 21% in the EU27, after a 6.5% in 2022. Considering that from 2013 to 2022 the number of building permits issued in the EU overall grew by almost 40%.

The average, unweighted EU27 house price index

grew by 3% in 2023, after a 11.6% increase in 2022, slowing down a trend that began in 2013. Compared to 2022, there has been no change in the ranking of the largest mortgage markets. Germany, France, the Netherlands, Spain, Sweden and the UK combined represent 76% of outstanding mortgages in the EU27 plus UK aggregate. The total EU mortgage market remained quite stable passing from 6.7 trillion in 2022 to 6.8 trillion in 2023 (+0.8%). In non-Euro area there has been the same increment of 0.8%. Adding the UK, Norway and Iceland, the figure reached EUR 9 trillion outstanding. Average unweighted EU27 interest rates on mortgages stood at 4.72% compared to 3.11% in 2022. The UK interest reached 4.81% compared to 2.56% in 2022.

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About ECBC

The European Covered Bond Council (ECBC) is the platform that brings together covered bond market participants including covered bond issuers, analysts, investment bankers, rating agencies and a wide range of interested stakeholders.

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